award contracts for financial management reviews and annual audits of state pensions, social insurance, medical insurance and road funds.

eliminate the deposit requirement for prepayment of imports.

Mr Camdessus said: "When these remaining issues have been satisfactorily resolved, I expect to recommend completion of the review (of the Russian loan instalment) to the IMF board."

He said Russia had met or exceeded several economic targets the fund set.

"In particular ... expectations have been exceeded regarding economic growth, the containment of inflation, the fiscal balance and international reserves," he said.

Nato talks at White House

Mr Camdessus has said in the past that the campaign in Chechnya could lead to suspension the IMF money.

The IMF claims to be an independent body and to make its loans based on economic criteria, but several governments have called for suspension of the IMF loans to protest against Russia's actions in Chechnya.

US president Bill Clinton appeared not to be among them. His spokesman Joe Lockhart suggested that cutting off economic aid to Russia could thwart efforts to promote democracy and reduce the nuclear threat.

Visiting NATO Secretary General George Robertson said he "spent a fair amount of time talking" to President Bill Clinton about suspending IMF aid to Russia.

But he said they agreed on the need to keep Russia involved in world affairs.

"The formal pretext is our supposed failure to execute certain commitments," Interfax quoted him as saying. "We do not agree."

And his deputy Viktor Khristenko told NTV television: "It is clear that political considerations dominated when this decision was taken. The IMF's status as a non-political organisation is called into question."